🧐 ProPicks AI October update is out now! See which stocks made the listPick Stocks with AI

Australia's AWE serves Mineral Resources notice to match Mitsui offer

Published 31/01/2018, 09:26 am
© Reuters.  Australia's AWE serves Mineral Resources notice to match Mitsui offer
AWE
-
MIN
-

Jan 31 (Reuters) - Australia's AWE Ltd AWE.AX said on Wednesday it would give suitor Mineral Resources MIN.AX the opportunity to sweeten its A$0.83 per share takeover offer, after Japan's Mitsui & Co's offer for the gas producer, which was nearly 15 percent higher.

AWE said in a statement it has issued a notice to Mineral Resources notifying the same, which gives Mineral Resources three business days to match the Mitsui Proposal, expiring on Feb. 2.

AWE said it would enter into a bid implementation deed with Mitsui if Mineral Resources didn't match its offer. The board would continue recommending the Mineral Resources offer during the period, it added.

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.